7 Best Alternative Energy Stocks To Buy According to Analysts

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1. Fluence Energy, Inc. (NASDAQ:FLNC)

Average Upside Potential as of May 21: 57.02%

Number of Hedge Fund Holders: 22

Fluence Energy, Inc. (NASDAQ:FLNC) tops our list of the best alternative energy stocks according to analysts. The company provides energy storage products and services which also include AI-powered software-as-a-service products for renewable and storage applications in the US, Asia Pacific, Africa, and Europe, among others. Some of its energy storage products include Gridstack Pro, Sunstack, Edgestack, and Ultrastack. On May 8, the company reported its earnings for the second quarter of 2024. It reported a revenue of $623.14 million and beat estimates by $58.83 million.

As of May 21, the stock has a Buy rating based on the consensus of 23 Wall Street analysts. It has an average price target of $28.5 and a high price forecast of $47. On April 1, a BofA analyst Julien Dumoulin-Smith raised his price target from $26 to $28 and maintained a Buy rating on Fluence Energy, Inc. (NASDAQ:FLNC). As of May 23, the stock has surged nearly 20% over the past six months.

Fluence Energy, Inc. (NASDAQ:FLNC) was a part of 22 investors’ portfolios at the end of the first quarter of 2024. These funds held collective stakes worth $224.83 million. As of March 31, Orbis Investment Management is the major shareholder of the company, with positions worth $187.56 million.

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If you are looking for an AI stock that is as promising as Microsoft but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

Read Next: 10 Best Dividend Stocks of 2024 and the 8 Best Dow Stocks To Buy According to Hedge Funds.

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